Birmingham property consultancy acquired by rival in major deal
BIRMINGHAM-based property consultancy GBR Phoenix Beard Holdings has been acquired by rival Savills in an undisclosed deal, it has been announced.
Savills said the merger would create a leading advisory firm in Birmingham, with a particularly strong position and client offering in property management, agency, building surveying and investment.
The terms of the deal have not been disclosed.
GBR Phoenix Beard, which operates on a national footing and also has offices in London and Leeds, covers commercial property management, office and industrial agency, investment, residential management, building consultancy, lease consultancy, rating, and health and safety services.
The firm manages properties across the UK on behalf of retained clients including Columbia Threadneedle Investments, Standard Life Investments, Calthorpe Estates, Wesleyan and Scarborough Group, while the office agency team acts for a diverse base of clients such as M&G, Ballymore, CEG, Bruntwood, L&G and Ediston.
GBR Phoenix Beard employs 205 people, who will all join Savills with immediate effect, and is led by managing director, Simon Farrant, alongside head of property management, Catherine Gabriel and head of agency, Stephen Benson.
The deal will see the Savills and GBR Phoenix Beard Birmingham teams relocate to a new combined office in due course, while the GBR Phoenix Beard teams in London and Leeds will move into Savills existing offices at Margaret Street and City Point.
Mark Ridley, CEO of Savills UK and Europe, said: “This acquisition is a unique opportunity to further strengthen our national multi-sector offer providing high quality staff and a first class client base with a strong level of recurring income.”
Mr Farrant added: “We are genuinely thrilled to be joining Savills, which reflects the high esteem in which our business and our team are held.
“This is a pivotal moment in GBR Phoenix Beard’s 50-year history and we are excited by the compelling proposition offered to our longstanding clients.”
Barry Allen, head of Savills Birmingham, said Savills had a reputation on both a national and regional platform and this acquisition strengthened both positions.
“The combination of the two businesses and our existing market relationships and expertise will create an impressive force in the market. I am very much looking forward to working with the GBR Phoenix Beard team to drive our already strong presence in Birmingham and the wider Midlands area to a new level,” he said.
